CBIZ (NYSE:CBZ) Upgraded at StockNews.com

StockNews.com upgraded shares of CBIZ (NYSE:CBZ - Free Report) from a sell rating to a hold rating in a research report released on Friday morning.

CBIZ Trading Down 0.8 %

NYSE:CBZ traded down $0.70 during mid-day trading on Friday, reaching $82.02. 201,877 shares of the company's stock traded hands, compared to its average volume of 317,458. The company has a 50 day moving average price of $77.29 and a 200-day moving average price of $73.87. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 34.75 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.49 and a quick ratio of 1.49. CBIZ has a 12-month low of $60.59 and a 12-month high of $86.36.

CBIZ (NYSE:CBZ - Get Free Report) last posted its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $438.90 million for the quarter, compared to analysts' expectations of $440.16 million. CBIZ had a return on equity of 15.12% and a net margin of 7.08%. The business's revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, sell-side analysts predict that CBIZ will post 2.65 earnings per share for the current year.

Hedge Funds Weigh In On CBIZ

Several hedge funds and other institutional investors have recently modified their holdings of CBZ. JPMorgan Chase & Co. lifted its stake in shares of CBIZ by 7.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 704,888 shares of the business services provider's stock valued at $47,432,000 after purchasing an additional 48,979 shares during the period. Principal Financial Group Inc. lifted its position in CBIZ by 25.8% during the third quarter. Principal Financial Group Inc. now owns 27,860 shares of the business services provider's stock valued at $1,875,000 after buying an additional 5,717 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of CBIZ by 10.3% during the 3rd quarter. Retirement Systems of Alabama now owns 86,194 shares of the business services provider's stock valued at $5,800,000 after buying an additional 8,032 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of CBIZ in the 3rd quarter worth about $262,000. Finally, Geode Capital Management LLC increased its stake in shares of CBIZ by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,109,074 shares of the business services provider's stock worth $74,644,000 after acquiring an additional 11,615 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.